Montgomery Investment Management Inc. Buys New Holdings in EQT Corporation (NYSE:EQT)

Montgomery Investment Management Inc. bought a new stake in EQT Corporation (NYSE:EQT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,000 shares of the oil and gas producer's stock, valued at approximately $641,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQT. Kingsman Wealth Management Inc. purchased a new position in EQT in the first quarter valued at about $1,284,000. Teacher Retirement System of Texas purchased a new position in EQT in the fourth quarter valued at about $244,000. Aviva PLC purchased a new stake in shares of EQT during the fourth quarter worth about $14,719,000. Axxcess Wealth Management LLC increased its position in shares of EQT by 7.0% during the first quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer's stock worth $356,000 after acquiring an additional 434 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of EQT during the first quarter worth about $226,000. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Price Performance

Shares of NYSE EQT traded up $1.89 during trading on Thursday, hitting $53.85. The company had a trading volume of 3,519,080 shares, compared to its average volume of 8,414,435. The company has a market cap of $32.24 billion, a P/E ratio of 29.06, a PEG ratio of 0.35 and a beta of 0.65. EQT Corporation has a 52 week low of $30.02 and a 52 week high of $61.02. The business's 50-day moving average is $56.49 and its 200 day moving average is $52.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.38%. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Equities research analysts predict that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th will be given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.17%. The ex-dividend date is Wednesday, August 6th. EQT's dividend payout ratio (DPR) is presently 34.05%.

Wall Street Analyst Weigh In

EQT has been the topic of a number of analyst reports. UBS Group reaffirmed a "buy" rating on shares of EQT in a research report on Monday, July 14th. TD Cowen raised EQT from a "hold" rating to a "buy" rating and set a $54.00 target price on the stock in a research report on Tuesday, April 8th. Royal Bank Of Canada lifted their target price on EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th. Scotiabank reaffirmed a "sector perform" rating and set a $66.00 target price (up from $62.00) on shares of EQT in a research report on Friday, July 11th. Finally, Wall Street Zen lowered EQT from a "hold" rating to a "sell" rating in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $60.79.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.

Want to see what other hedge funds are holding EQT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EQT Corporation (NYSE:EQT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.